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People are downvoting you, but you are correct. People believe all sorts of weird thing about tax deductions (almost always _income_ deductions).
by jrmg 4y ago
People are downvoting you, but you are correct.
People believe all sorts of weird thing about tax deductions (almost always _income_ deductions).
- andirk 4y agoIncome $1 and then give away that $1 is a net negative, so I assume it's more like: I give you, the company, $1 as a "gift", which I'm allowed to gift you some hundreds of dollars per year without an extra tax form. You take that "gift" and donate it, thereby netting you the 35 cents. Interested to hear specifics if anyone knows!
- ztrww 4y agoWhy wouldn’t $1 that just be counted as regular income?
- andirk 4y agoUpon some light internet diving (backstroking), it appears that the company cannot deduct the customer's donation, according to a couple random websites. There's a beer here in the SF Bay Area that words its charitable claim like "up to 8% to local causes", which can mean anything from doing nothing at all to earmarking 8% of the revenue for their new yacht which is parked locally.